Saudi meal subscription startup Calo raises $25 million Collection B at a reported valuation of $250 million 

Saudi-headquartered foodtech startup Calo has raised $25 million in a Collection B spherical led by Nuwa Capital, with participation from STV and Khwarizmi Ventures, together with some regional household workplaces, it introduced in a press release right this moment. All three VCs are returning buyers. The spherical values the corporate at $250 million, in keeping with a number of sources who spoke with TechCrunch.

Based in late 2019 by Ahmed Alrawi, who was later joined by Moayed Almoayed as co-founder, Calo is a full-stack meal subscription startup with its personal kitchens and logistics. The startup that provides its companies in Saudi Arabia, United Arab Emirates, Bahrain, Qatar, and Kuwait, permits customers to create custom-made meal plans on its app, and obtain heat-and-eat meals at their doorstep.

In response to its web site, a plan with breakfast, lunch, dinner, and a snack, for twenty-four days a month, in Saudi, prices about $700 per 30 days.

The startup in its assertion claimed that it’s the fastest-growing meal subscription service on this planet, rising at a CAGR of 100% during the last 5 years. The assertion additionally famous that Calo’s annualized income is over $100 million. Calo, which began in Bahrain, delivered 10 million “customized meals” in 2024.

Ahmed Al Rawi, Founder & CEO of Calo, mentioned, “It’s been really a privilege to be ‘making wholesome simple’ over the previous few years for tons of of hundreds of shoppers, but it surely’s nonetheless day 1 for us. Being in Saudi, we’re impressed to suppose huge and be bold. There’s no purpose why we will’t export innovation from the area to the remainder of the world.”

“The highest 10 meals manufacturers globally earn $300B a yr, none of that are fixing the well being drawback. We guess that within the subsequent 10 years, there can be a wholesome model that climbs to the highest 10 checklist, and we aspire to be that model having tech & innovation in our DNA from day 1,” he added.

Khaled Talhouni, Managing Associate at Nuwa Capital, mentioned, “Calo is reimagining how the world adopts wholesome life by being buyer obsessed and creating merchandise that actually clear up the issue. At Nuwa, we’re excited to return as buyers resulting from our deep conviction in Ahmed’s imaginative and prescient and Calo’s potential to construct a category-leading know-how enterprise that has delivered constant progress throughout geographies, fixing a giant neglected drawback.”

The startup plans to make use of the newest funds to additional strengthen its place because the chief of the meal subscription house within the GCC area. It additionally plans to proceed its growth into adjoining enterprise traces together with retail, and go worldwide by closing the acquisition of a UK-based firm within the first quarter of 2025.

Calo plans to boost one other $25 million as a part of Collection B extension, after oversubscription of the unique spherical.

Publish Views: 184